Deep Yellow (DYL) is an ASX-listed advanced-stage uranium exploration company. It also listed on the Namibian Stock Exchange (NSX). Its primary focus is in Namibia, where exploration is conducted by its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). DYL’s JORC Mineral Resource inventory now totals 119 Mlbs U3O8, with 109.5 Mlbs U3O8 in Namibia.
Omahola is the Company’s flagship project, the last remaining independently-owned high grade alaskite project in Namibia, which has a JORC compliant resource of 48.7 Mt at 420 ppm for 45.1 Mlbs U3O8 from three hard rock deposits, namely the Ongolo and MS7 Alaskite deposits and the INCA deposit.
Omahola is at pre-feasibility stage (PFS), with concurrent resource drilling and ongoing exploration along the highly prospective Ongolo – MS7 trend. Early in 2011 interim results for the partially completed PFS showed that the project could be developed with competitive capital and operating costs.
DYL is also advancing its Tubas Sand Project which comprises a low grade aeolian sand deposit that can be upgraded by physical beneficiation. The project resource is 87 Mt at 148 ppm U3O8 for 28.4 Mlbs U3O8.
A plan to supply uranium loaded resin to one of the two existing Namibian uranium producers or supplemental feed to enhance the Omahola Project is being considered.
DYL discovered a substantial area of iron mineralisation on one of its Namibian tenements in 2008. The Shiyela Iron Project has a JORC compliant resource of 115.1 Mt at 19.5% Fe. DYL is undertaking further testwork to update its scoping study with a view to divestment of the project.
In Australia DYL owns the Napperby Uranium Project and numerous exploration tenements in the Northern Territory as well as exploration assets in Queensland, all of which are slated for divestment.